Wisconsin 2021-2022 Regular Session Status: Enacted 4 R cosponsors

SB 73 — Relating to: real estate disclosure reports.

Last action — Published 12-4-2021

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed Assembly
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 05, 2021. Enacted.

Prognosis

Likely to advance 82% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 6 sponsors

    6 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (4 R).

  • Cleared a recorded vote

    Passed 1 recorded vote so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

How this bill changes current law

5 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill updates the residential and vacant land disclosure reports to include information on foreign ownership and clarifies conditions for contract rescission.

  • 709.02 (1)

    A prospective buyer who does not receive a report within the 10 days may, within 2 business days after the end of that 10-day period, rescind the contract of sale or option contract by delivering a written notice of rescission to the owner or to the owner's agent and is entitled to the return of any deposits or option fees paid in the transaction. → A prospective buyer who does not receive a report within the 10 days may, within 2 business days after the end of that 10-day period, rescind the contract of sale or option contract by delivering a written notice of rescission to the owner or to the owner's agent and is entitled to the return of any deposits or option fees paid in the transaction.

    The change ensures that buyers are explicitly entitled to return of deposits or fees upon rescinding due to lack of the required report.

  • 709.05 (1)

    A report under s. 709.03 or 709.033 is considered complete only if the owner answered, or supplied information under s. 709.035 for, each item on the report. → A report under s. 709.03 or 709.033 is considered complete only if the owner answered, or supplied information under s. 709.035 for, each item on the report.

    It reinforces the requirement for completeness of the report.

  • 709.03 (form) F8.

    F8. Are Other than public rights of way, are you .... .... .... aware of nonowners having rights to use part of the property, including, but not limited to, private rights-of-way and easements other than recorded utility easements? → F8. Are Other than public rights of way, are you .... .... .... aware of nonowners having rights to use part of the property, including, but not limited to, private rights-of-way and easements other than recorded utility easements?

    Clarifies language in the disclosure form regarding rights of others to the property.

  • 709.03 (form)

    G4. Is the owner a foreign person, as defined in 26 USC 1445 (f)? (E.g., a nonresident alien individual, foreign corporation, foreign partnership, foreign trust, or foreign estate.)

    Adds a new disclosure requirement regarding foreign ownership status.

  • 709.033 (form) F10.

    F10. Is the owner a foreign person, as defined in 26 USC 1445 (f)? (E.g., a nonresident alien individual, foreign corporation, foreign partnership, foreign trust, or foreign estate.)

    Introduces a similar requirement for the vacant land disclosure report.

Action History

  1. Published 12-4-2021

  2. Report approved by the Governor on 12-3-2021. 2021 Wisconsin Act 96

  3. Presented to the Governor on 12-2-2021

  4. Report correctly enrolled

  5. LRB correction

  6. Received from Assembly concurred in

  7. Ordered immediately messaged

  8. Read a third time and concurred in

  9. Rules suspended

  10. Ordered to a third reading

  11. Read a second time

  12. Rules suspended to withdraw from calendar and take up

  13. Placed on calendar 10-26-2021 by Committee on Rules

  14. Read first time and referred to committee on Rules

  15. Received from Senate

  16. Ordered immediately messaged

  17. Read a third time and passed

  18. Rules suspended

  19. Ordered to a third reading

  20. Read a second time

  21. Placed on calendar 9-28-2021 pursuant to Senate Rule 18(1)

  22. Available for scheduling

  23. Report passage recommended by Committee on Housing, Commerce and Trade, Ayes 5, Noes 0

  24. Executive action taken

  25. Public hearing held

  26. Representative Drake added as a cosponsor

  27. Read first time and referred to Committee on Housing, Commerce and Trade

  28. Introduced by Senators Ballweg, Felzkowski, Feyen, Marklein, Nass and L. Taylor; cosponsored by Representatives Horlacher, Allen, Brandtjen, Brooks, Callahan, Dittrich, Gundrum, Jagler, Knodl, Krug, Kurtz, Moses, Murphy, Ortiz-Velez, Plumer, Ramthun, Skowronski, Wichgers and Zimmerman

Sponsors

Sponsorship breakdown

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6 sponsors · 0 co-sponsors · 126 not signed on

Sponsors (6)

Co-sponsors (0)

None.

Not signed on (126)

126 members have not signed on to this bill.

Show all 126 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Subjects

housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 73?
SB 73 is sponsored by L. Taylor, Nass, Steve (Republican), Marklein, Howard (Republican), Feyen, Dan (Republican), Felzkowski, Mary (Republican), and Ballweg.
What is the current status of SB 73?
This bill has been enacted into law. Introduced February 05, 2021. Enacted.
Where can I track SB 73?
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